F7 & P2 - IAS &IFRS Discussions

[Hamdy Hafez]

Hi every body here
Especially Kelly, Assad, Veda, ViVine & Annie (where are you Annie)

As you know every body here, the F7 & P2 are very relative & similar on the most of syllabus topics (IAS & IFRS)

So can we start here a new thread (topic) like that one on the F7 bit
http://getthroughguides.co.uk/forum/showthread.php?t=696&page=2
In other word, we will identify a specific IAS or IFRS in order to;

1)Carefully read it
2)Make a summarization & highlight the mean points
3)Every one come to write the main points that he understood from the IAS & IFRS
4)Make a questions & answers

Finally to we need to bring it together because (one hand can't claps alone)
I'll wait for your recommendations:mask:

[Acid]

Good idea. I'll help

[Hamdy Hafez]

Good idea. I'll help

Good reply , I'll wait:err::eek:

[Acid]

^ lol . i will help you in whatever problem you are facing. Please let me know.

Thanks

[Hamdy Hafez]

ok, can we read together every body here, the technical article (Property, plant and equipment - june/july 2007) & the second part on the Aug 2007 (revaluation
& derecognition)

http://www.accaglobal.com/students/study_exams/qualifications/acca_choose/acca/fundamentals/fr/technical_articles/

& then discuss it next week together

(I wish to find any fighter here to move on with me):arghh:

[Veda]

ok, can we read together every body here, the technical article (Property, plant and equipment - june/july 2007) & the second part on the Aug 2007 (revaluation
& derecognition)

http://www.accaglobal.com/students/study_exams/qualifications/acca_choose/acca/fundamentals/fr/technical_articles/

& then discuss it next week together

(I wish to find any fighter here to move on with me):arghh:
Hi,

I would like to join in. Pls tell me what I will have to do?

[dragoon_alex]

I'd like to try the answer for PPE discuss first

According to IAS 16 Asset can only be recognized PPE when it's meet following criteria:

The value of Asset able to measure, and under the company capitalize policy.

The assets able to bring future benefit income.

Company have owed the asset or have right to use the assets (eg finanical lease)

Any set up cost and improvement cost are also able to include in the PPE. However, the repair can't be include in cost of PPE.

The depreciation of PPE should calculate annually, and any revaluation should be record as adjustment of carrying value immediately. Any profit from revaluation should not allow to through in P&L, unless it's been realised.

[ralph20k]

I think this a great initiative. I will like to be part of this. May i know after reading the article what next.

Please let me know so i can make an input.

Thanks

[DavidAddo]

Hi Acid,
I am interested in being a member of the study group.
I want to join.

David